No To Retro Tax – Campaign Against Section 58 Finance Act 2008

[DonkeyRhubarb]

Do you know if proposal 1 is applied retrospectively?
My involvment with this scheme was prior to 2004. Does that mean they will not apply it?

I don't see how they can apply it to cases which pre-date DOTAS, so you should be ok.

Re. smalldog's post, the proposals if accepted would become law after July (not April)

[smalldog]

I don't see how they can apply it to cases which pre-date DOTAS, so you should be ok.

Re. smalldog's post, the proposals if accepted would become law after July (not April)

Hi DR, So if you joined the scheme pre 2004 you are in the clear, I took this from a disclosure website and it makes reference to 2006?:

"From 1 August 2006 it is necessary to consider whether an income tax, corporation tax, or capital gains tax scheme or product should be disclosed to HMRC under the DOTAS rules."

IF that is the case then for a majority of us we are probably not affected?

I also dont see any mention of time to pay or what happens if the taxpayer does not have the funds to cover any follower notice in the legislation, this is back to the "can HMRC bankrupt you for pre-payment of a postponed liability". I assume this will be flushed as part of the bill debate.

[screwthis]

I also dont see any mention of time to pay or what happens if the taxpayer does not have the funds to cover any follower notice in the legislation, this is back to the "can HMRC bankrupt you for pre-payment of a postponed liability". I assume this will be flushed as part of the bill debate.

That is such a difficult and far reaching minefield.

"oops, sorry we were wrong, here is a paltry amount of interest".

That's hardly going to help buy back a house or repair a marriage. It most likely won't even cover the stamp duty.

Their argument is that tax dodgers shouldn't gain a cash flow advantage but likewise "innocent" tax payers shouldn't be handed a massive cash flow disadvantage just because HMRC feel like having a go.
To them it is pure figures, and money later with interest is as good as money now but to members of the public that cash is the difference between buying/keeping a house, moving country, having children, changing career, starting a business, being able to retire etc...

Horrible horrible sentiement from the Govt. to play with people's lives over their tax grab greedyness. Repugnant even.

What happened to innocent until proved guilty?

[PlaneSailing]

That is such a difficult and far reaching minefield.

"oops, sorry we were wrong, here is a paltry amount of interest".

That's hardly going to help buy back a house or repair a marriage. It most likely won't even cover the stamp duty.

Their argument is that tax dodgers shouldn't gain a cash flow advantage but likewise "innocent" tax payers shouldn't be handed a massive cash flow disadvantage just because HMRC feel like having a go.
To them it is pure figures, and money later with interest is as good as money now but to members of the public that cash is the difference between buying/keeping a house, moving country, having children, changing career, starting a business, being able to retire etc...

Horrible horrible sentiement from the Govt. to play with people's lives over their tax grab greedyness. Repugnant even.

What happened to innocent until proved guilty?

Exactly. I assume that Mr. Gauke will be after Google and Starbucks to pay over the money they say is 'due'. That's what annoys be about Gauke's quote the most. This money is NOT owed to them. I declared everything and they had their chance in 2007 to prove any different. They didn't and I want to know why, before they start issuing demands.

These are only proposals at the moment, and there is time between now and Royal Assent to start lobbying. There will be others affected by this and I'm sure some that are bigger than us. Perhaps Whitehouse will know our best approach?

[DonkeyRhubarb]

Hi DR, So if you joined the scheme pre 2004 you are in the clear

Don't quote me on this.

I think tax years up to 2003/4 would be ok. Proposal 1 only affects tax years after DOTAS came in.

If you were in the scheme from say 2002 to 2006 then your earlier returns would not be impacted but the later ones would.

[elpinar]

am i right in saying

that we are going to have interest added should we end up having to pay but that no penalites will be added ? so it will ONLY (ha ha ) be tax and interest if that day comes
or is this also an unknown? or is this also an ever moving goal post

[screwthis]

that we are going to have interest added should we end up having to pay but that no penalites will be added ? so it will ONLY (ha ha ) be tax and interest if that day comes
or is this also an unknown? or is this also an ever moving goal post

Correct. Tax, NI and interest. No additional penalties (yet).

[elpinar]

hmmm...

Correct. Tax, NI and interest. No additional penalties (yet).

the (yet) is my worry.... i am considering whether it is worth paying the damn bill (at least for some years) and getting those shut down so that they are done and dusted should they then start inflicting more damage by way of penalties
i presume if they have received payment and accept it .. they cannot then later add penalties ... but should we overturn the rule - i presume i could apply for the tax back .... although that would seem sceewed in my favour so MUST be wrong !!!!!

[BrilloPad]

I don't see how they can apply it to cases which pre-date DOTAS, so you should be ok.

Re. smalldog's post, the proposals if accepted would become law after July (not April)

None of us saw them going retrospective - not even WG.

[DonkeyRhubarb]

the (yet) is my worry.... i am considering whether it is worth paying the damn bill (at least for some years) and getting those shut down so that they are done and dusted should they then start inflicting more damage by way of penalties
i presume if they have received payment and accept it .. they cannot then later add penalties ... but should we overturn the rule - i presume i could apply for the tax back .... although that would seem sceewed in my favour so MUST be wrong !!!!!

The only time penalties will come into play is if you are presented with a final demand, or payment notice, and you don't pay up within the allotted time.